PAVmed Inc.

For the period ended Dec 31, 2025. Filed Mar 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 27, 2026

PAVM$1.63+3.8%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Balance Sheets

(in thousands except number of shares and per share data)

· · December 31, 2025 · · · December 31, 2024 ·
Assets:
Current assets:
Cash	$1,538	$1,185
Accounts receivable	15	18
Prepaid expenses, deposits, and other current assets	1,004	961
Total current assets	2,557	2,164
Fixed assets, net	77	151
Operating lease right-of-use assets	2,002	2,500
Equity method investment - at fair value	34,120	25,637
Other assets	56	208
Total assets	$38,812	$30,660
Liabilities, Preferred Stock and Stockholders’ Equity
Current liabilities:
Accounts payable	$678	$657
Accrued expenses and other current liabilities	2,486	5,176
Operating lease liabilities, current portion	573	513
Senior Secured Convertible Notes - at fair value	11,100	29,100
Total current liabilities	14,837	35,446
Operating lease liabilities, less current portion	1,675	2,247
Total liabilities	16,512	37,693
Commitments and contingencies (Note 10)
Stockholders’ Equity:
Preferred stock, $0.001 par value. Authorized, 20,000,000 shares; Series B Convertible Preferred Stock, par value $0.001, issued and outstanding 1,529,389 at December 31, 2025 and 1,412,865 shares at December 31, 2024	3,665	3,316
Preferred stock, $0.001 par value. Authorized, 20,000,000 shares; Series C Convertible Preferred Stock, stated value $1,080, issued and outstanding of 19,457 at December 31, 2025 and no shares issued and outstanding as of December 31, 2024	21,013	—
Common stock, $0.001 par value. Authorized, 25,000,000 shares (Note 15); 927,934 and 373,300 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	1	1
Additional paid-in capital	268,019	249,153
Accumulated deficit	(258,731)	(254,965)
Total PAVmed Inc. Stockholders’ Equity (Deficit)	33,967	(2,495)
Noncontrolling interests	(11,667)	(4,538)
Total Stockholders’ Equity (Deficit)	22,300	(7,033)
Total Liabilities and Stockholders’ Equity (Deficit)	$38,812	$30,660

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.